Math Problem Statement
To attend school,
RalphRalph
deposits
$720720
at the end of every
quarterquarter
for
fivefive
and one-half years. What is the accumulated value of the deposits if interest is
33%
compounded
monthlymonthly?
Question content area bottom
Part 1
The accumulated value is
$enter your response here.
(Round the final answer to the nearest cent as needed. Round all intermediate values to six decimal places as needed.)
Solution
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Math Problem Analysis
Mathematical Concepts
Compound interest
Future value of an annuity
Monthly compounding
Formulas
Future value of an annuity formula with monthly compounding
Theorems
-
Suitable Grade Level
High School
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